Q1 2014 Trading Results and Financial Overview
Q1 2014 Financial Performance
$ millions, except EPS
Q1/14 Q/Q
Y/Y
Revenues
$5,725
5%
9%
Expenses
$3,105
4%
10%
Net Income
$1,709
2%
6%
Diluted EPS
$1.32
2%
6%
ROE
15.4%
(40 bps) (140 bps).
Productivity Ratio
54.2%
Basel III CET1 Ratio
9.4%
20 bps
30 bps
(30 bps)
120 bps
Dividends Per Common Share
+$0.02
+$0.02
+$0.03
$0.62
$0.62
$0.60 $0.60
$0.57
Highlights
■ Solid EPS growth Y/Y
Canadian Banking & GWI had strong results, with
more moderate performances from International
Banking & GBM
■ Revenue growth of 9% Y/Y
Higher core banking margin and asset growth
Increased banking and wealth management fees
Positive impact of FX
Lower trading revenues offset by higher
securities gains
■ Expenses up 10% Y/Y
Excluding FX and acquisitions, expenses up 7%
Higher costs to support business growth
■ Basel III CET1 ratio of 9.4%
Good start to the year
Q1/13
Q2/13 Q3/13
Q4/13
Q1/14
Announced dividend increase
7
Scotiabank
Capital
Basel III Common Equity Tier 1 (%)
Highlights
8.2
8.6
8.9
9.1
9.4
Q1/14 internal capital generation of
$860 million
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14
Risk-Weighted Assets ($B)
280
281
282
288
302
■ Risk-weighted assets up $14 billion or
5% from previous quarter to $302
billion
FX and underlying business growth
Basel III CVA phase-in
■ Continuing to redeploy capital into
our four business lines
■ DRIP discount eliminated effective for
Q2 dividend
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14
Capital position remains strong
8
Scotiabank
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